Economics
Iran war deals harder blow to natural gas than oil
Key gas infrastructure - liquefaction plants in particular - is more complex and expensive to build and repair than the oil equivalent. That means oil refineries can often resume operations more quickly than liquefied natural gas export hubs after a shutdown.
China's Sinopec will not buy Iranian oil, wants to tap state reserves
The world's largest refiner usually sources roughly half of its crude oil needs from the Middle East, making it particularly exposed to the near-closure of the Strait of Hormuz amid the U.S.-Israeli war on Iran.
Prices for oil, fuel cargoes smash record highs as Iran war chokes Middle East supply
Surging oil prices in physical markets — the trading place for oil on ships, rail cars or in storage tanks — have outpaced the already dizzying increases in benchmark futures markets, as refiners and traders across Asia and Europe are snapping up whatever barrels they can secure to plug the enormous supply gap caused by the U.S.-Israeli war on Iran.
Jones Act: U.S. waives shipping regulation to ease fuel, fertilizer deliveries
Under the Jones Act, goods shipped between U.S. ports must be carried on vessels that are U.S.-built, U.S.-flagged and mostly U.S.-owned. Maritime industry unions support the requirement, which sharply limits the number of tankers available for domestic shipments.
Vance, Wright to meet with U.S. oil trade group, acknowledges 'rough road ahead' on gas prices
The U.S. has already announced plans to release crude oil from the nation's emergency stockpile to reduce energy prices, and on Wednesday said it would issue a 60-day waiver to U.S. shipping regulations ease fuel deliveries to the nation's ports.
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